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The Place
Spain is the second largest country in Western Europe and the European Union after
France, whilst Spanish is the world’s second most spoken first language. This country,
nestled geographically in the heart of Europe, is framed by majestic mountain ranges
and lined with numerous rivers that flow through it.
This sun-drenched nation is famed for its glittering beaches, colourful culture,
rich heritage and delicious food and wine, whilst 30 years of democracy and rapid
economic development have inspired a wave of unusual and visually stimulating architecture
and artwork.
The Economy
Spain is a developed country with the twelfth largest economy in the world by nominal
GDP, and the fifth largest within the European Union.
This democracy experiences economic growth from agricultural, financial, construction
and real estate industries primarily, whilst the Spanish tourism industry has grown
to be the second biggest in the world.
Tourists are attracted by the warm climate, cultural pleasures and its convenient
geographical position, especially in relation to the UK, so Spain prioritises tourism
as a main national industry and a major source of stable employment and development.
The Lifestyle
Spain is best known for its culturally diverse heritage, influenced by the many
nations and peoples throughout its history. From the wildly colourful flamenco dancers
and famous bullfighting to the delectable variety of food and drink and the unique
art, music, cinema and architecture, this country’s lifestyle truly offers something
for everyone.
Throughout this extraordinary country, a zest for life creates an intense vibe:
indeed, if there is one thing Spaniards love, it is to eat, drink and be merry,
and tourists and locals alike are always welcome to join the party.
Barcelona is no less bubbling, offering alternative art galleries, festivals, urban
sport, and more than enough social events to fill the annual entertainment calendar.
However, this boisterous surface also encases a wealth of traditions and customs
that are respectfully and habitually observed by the locals throughout the year.
Madrid’s winding medieval alleyways belie the youthful exuberance to be found within
the city: one can enjoy an upbeat nightlife in the numerous restaurants, nightclubs
or theatres, whilst by day one can relax in one of the city’s countless parks, many
of which were built for kings and therefore vast.
Costa Blanca and Marbella offer no less entertainment, with a frenzied nightlife
being a great tourist attraction particularly. However, the sunny golf courses,
golden sandy beaches and expansive shopping malls provide more than enough to fill
the day, attracting particularly British expats who enjoy the familiar way of life
but with the bonus of a warm climate 320 days of the year.
The Prospects
A recent study has named Spain as having the second highest rate of expat residents
in Europe, after Luxembourg, with a staggering 5.7 million foreign citizens in the
country.
The warm climate, the close geography with the UK and the friendly and familiar
local culture is a particular draw especially to UK expatriates.
This represents a massive opportunity for IFAs in the area, who can take advantage
of the large potential client base and the high-earning individuals who call Spain
home.
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